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HSBC, StanChart raise HK prime rates as borrowing costs surge

HSBC Holdings Plc and Standard Chartered Plc raised their main lending rates in Hong Kong again on Thursday, a move that will push borrowing costs higher for property owners as the economy continues to face massive strain. HSBC, the city’s biggest lender, said it is raising its prime rate by 25 basis points to 5.375% after the Hong Kong Monetary ...

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Norges Bank slows pace of interest rate increases

Norway’s central bank slowed the pace of interest-rate increases amid signs the economy is cooling, delivering a move forecast by just half the economists surveyed. Norges Bank lifted its key deposit rate on Thursday by 25 basis points to 2.5%, the smallest increase in its benchmark rate since June. The hike brings the rate to its highest level since 2009, ...

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SNB’s $143 billion loss in nine months casts doubt on government payout

The Swiss National Bank (SNB) reported a loss of 142.4 billion francs ($143 billion) for the first nine months as turmoil in global currency markets took a toll on the value of its foreign-exchange portfolio. The central bank’s foreign-currency positions resulted in a loss of 141 billion francs, and it also saw a valuation loss on its gold holdings and ...

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